Due to the continued success of its enterprise advocate marketing platform across the entire LATAM region, Buyapowa today announces the opening of its first LATAM office to be headed by Laura Murillo, in Bogota, Colombia.
Laura, a recent graduate of the ESADE MBA, will spearhead Buyapowa’s outreach into the LATAM market, which has already seen leading local brands including Apuesta Total, VTR and Crabi place their trust in the Buyapowa platform.
To understand why telecoms marketers have turned towards referral or member-get-member programmes, we first need to look at the daunting challenges they face.
On the one hand, the demand for mobile, fixed line and broadband services never ceases to stop growing. Users now just expect the highest-possible quality streaming to their fixed and mobile devices, with all the huge capex requirements in fibre networks, 5G etc. that necessitates.
It probably comes as no surprise that we at Buyapowa have always believed that word-of-mouth is the absolute gold standard of great marketing. After all, it’s consistently outperforming other marketing strategies and a reported 92% of consumers value recommendations from friends and family above all other forms of marketing. In fact, more recently, word-of-mouth helped travel titan Airbnb develop a strategy that enables them to get the vast majority of their web traffic (and business) without paying huge tech advertisers like Google and Facebook.
NOTE: We’ve updated this article to include yet more fantastic examples of brands that are deploying creative and innovative ways of maximizing the performance of their refer-a-friend program.
What is a referral program? A referral program is growth marketing tactic that seeks to encourage existing customers to recommend a brand to their friends, family and colleagues. Often called word-of-mouth marketing, it seeks to supercharge natural or latent word of mouth with easy to use sharing tools and referral rewards.
Finding the right method to acquire new, valuable customers for your business is hard work. That’s where referral marketing companies come into their own.